Aristocrat Looking For European Gaming Firm For Acquisition?
Aristocrat Leisure the giant gaming machine manufacturer in Australia is still looking for larger, strategic mergers and acquisitions according to reports from credit ratings agency Fitch Ratings.
The company still has nearly $1 billion ($932.2 million) in equity that it raised from the failed attempt to acquire Playtech along with cash reserves and although following the failure of Aristocrat to snap up Playtech following a revolt by shareholders believing the offer undervalued future potential, Aristocrat said they were actively looking to develop their own software platform but it seems certain they are looking at other potential acquisitions.
Chief executive of Aristocrat said after the failure to secure Playtech that Aristocrat will look to invest $1.3 billion in developing their own platform, saying that money that was part of the Playtech deal they raised will now be used to develop their own RMG company.
Indeed they moved quickly to install Mitchell Bowen as the CEO to develop the business and possibly to look at future acquisitions. Now the role for Mr Bowen could change to just focus on acquisitions.
With Europe certainly being the area of interest to acquire such expertise and having so many potential targets for Aristocrat. Observers believe Aristocrat will look at a software developer company based in Europe, no official word has come from the Australian gaming firm but it is thought that a move will happen this year.
